The Reserve Bank is expected to keep its official cash rate unchanged at 3.5 per cent on Thursday but in the accompanying statement to shift the guidance needle slightly to the easier side of neutral.

A speech by the Reserve Bank's assistant governor and chief economist John McDermott gives support to market expectations that the next move in interest rates is likely to be down.

The New Zealand dollar is trading close to parity with the Australian dollar and may push through the historic milestone today.

The seasons in George R.R. Martin's "Game of Thrones" aren't regular or celestial, just like business cycles.

Labour leader Andrew Little says the Reserve Bank should target property speculators to ease the pressures on the Auckland housing market.

The New Zealand dollar has slipped to 98.84 Australian cents from 99.03 cents yesterday ahead of Australian employment data today.

Andrew Little says a speech from the Reserve Bank deputy governor was effectively saying there was a housing crisis – something John Key had refused to accept.

"March is always the most active month for property sales, but there has never been a month's trading to compare with the past month," Barfoot and Thompson said.

The NZ dollar has risen to a new post-float high against the Australian dollar - the closest it has come to parity since being allowed to trade freely in 1984.